Rep. Poe: Target Russia's financial sector

Rep. Ted Poe, R-Texas, told Fox News National Security Analyst KT McFarland that the latest round of sanctions on Russia may not be enough -- and that if the administration really wants to hurt their economy it should impose sanctions that “go after Russia’s financial institutions.”

Poe said enforcing these kinds of sanctions could make sure “American and Western companies don’t do business with Russia.” The ability for President Vladimir Putin to continue working with foreign corporations, Poe argued, shows why sanctions so far have not swayed Moscow’s position on Ukraine.

He suggested a new round of sanctions against Russia announced by the White House Monday won’t be effective.

“I’m not sure [the sanctions] they will, I certainly hope they are,” said Poe. “It’s about time we have sanctions imposed on Russia that actually work.”

He sees Europe as being “held hostage” economically by Putin.

Poe explained the reason Europeans are “hesitant” to impose stricter sanctions on Moscow is “because they get so much energy from Russia.”

He has introduced a bill to expedite natural gas exports to Ukraine to give Kiev “a long-term alternative” to Russian energy.